Forex: Reserves see nominal decrease of 0.8%

KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) recorded a week-on-week nominal decrease of 0.8% on June 6, according to data released by the SBP on Thursday.

The central bank’s foreign exchange reserves decreased $70 million to $8,613 million compared with $8,683 million in the previous week. The decrease in the central bank’s reserves is mainly due to external debt servicing of $105 million.

During the week ending June 6, the SBP received inflows of $38 million from multilateral, bilateral and other official sources.

Total liquid foreign reserves held by the country, including net foreign reserves held by banks other than the SBP, stood at $13,456.9 million while net foreign reserves held by banks amounted to $4,844 million on June 6.

Published in The Express Tribune, June 13^th, 2014.

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